Robeco Institutional Asset Management B.V. lifted its position in shares of Eversource Energy (NYSE:ES – Get Rating) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,574 shares of the utilities provider’s stock after purchasing an additional 13,521 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Eversource Energy were worth $11,582,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ES. Vanguard Group Inc. raised its position in Eversource Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 44,413,456 shares of the utilities provider’s stock worth $3,462,474,000 after acquiring an additional 871,683 shares during the period. State Street Corp raised its position in Eversource Energy by 2.0% in the third quarter. State Street Corp now owns 25,182,412 shares of the utilities provider’s stock worth $1,963,221,000 after acquiring an additional 499,204 shares during the period. Wells Fargo & Company MN raised its position in Eversource Energy by 0.4% in the second quarter. Wells Fargo & Company MN now owns 7,356,878 shares of the utilities provider’s stock worth $621,435,000 after acquiring an additional 32,615 shares during the period. Charles Schwab Investment Management Inc. raised its position in Eversource Energy by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,375,101 shares of the utilities provider’s stock worth $562,220,000 after acquiring an additional 158,961 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Eversource Energy by 0.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,431,656 shares of the utilities provider’s stock worth $374,342,000 after purchasing an additional 41,456 shares in the last quarter. 77.37% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on ES shares. Evercore ISI upgraded shares of Eversource Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $86.00 to $92.00 in a research note on Tuesday, January 24th. Morgan Stanley reduced their target price on shares of Eversource Energy from $90.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 22nd. StockNews.com started coverage on shares of Eversource Energy in a research note on Thursday. They issued a “hold” rating for the company. Wolfe Research downgraded shares of Eversource Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 21st. Finally, Wells Fargo & Company reduced their price objective on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating for the company in a research note on Wednesday, February 15th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $89.00.
Eversource Energy Price Performance
Eversource Energy (NYSE:ES – Get Rating) last released its quarterly earnings results on Monday, February 13th. The utilities provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). Eversource Energy had a return on equity of 9.38% and a net margin of 11.43%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm earned $0.91 EPS. Eversource Energy’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts predict that Eversource Energy will post 4.37 EPS for the current fiscal year.
Eversource Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 2nd will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.56%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, March 1st. Eversource Energy’s payout ratio is presently 66.83%.
Insider Transactions at Eversource Energy
In other news, insider Frederica M. Williams sold 1,943 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $78.83, for a total value of $153,166.69. Following the completion of the sale, the insider now directly owns 20,763 shares in the company, valued at approximately $1,636,747.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.
About Eversource Energy
Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.
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